I knew from simple economics, the higher the demand, the higher the price in reality but Nigerian factor play major part in dollar rise.

What is Nigerian factor;
It is you and I that is corrupt in one area or the other.
Lack of good leadership from time to time. Square pegs are always in the round hole of Nigerian leadership.
Nigerian policies are always on paper without proper implementation.
Government ministries are pressured to publicize their statement of affairs to the public for proper scrutiny
There a lot teaming and lading in Nigerian government activities

okeysoninv:
Nigeria sells more than 38b cubic meters of gas every year at the rate of 2-3.7usd . You can go verify.
1.3 to 1.4bd a barrel is 80- 108usd . Go and verify. Cumulate it , you will get nothing less than $150b annually.

Erm, it does not matter how much gas we sell....what matters is , we don't control the international price of gas...and even producing more gas can lead to a glut which would lead to lower prices, and lower income.

twentyfivekobo:


Erm, it does not matter how much gas we sell....what matters is , we don't control the international price of gas...and even producing more gas can lead to a glut which would lead to lower prices, and lower income.

your just contradiction yourself up and down.

okeysoninv:
your just contradiction yourself up and down.

Let me repeat myself again...clearly.

Nigeria to prosper=we sell and export manufactured goods which means we earn far more than just selling oil, gas, agriculture, etc....

If you don't get it, my apologies.

EDSG2028:
A) You are probably importing more than you are exporting. Over dependence on dollar.
B) Political instability
C) Uncertainty about the country’s economy can stir fears for foreign investors. If they are leaving the country, they will need to trade naira for dollar.
D)Inflation
E) the country relies on foreign countries for most of her needs. Naija is simply not productive. No power, we depend on foreign refineries to even refine our crude
F) our low or sinking foreign reserve coupled with huge debt profile.

You sabi economics very well.

LoveGifted:
Please 1 Dollar is now 730 Naira.

I am not a good economist or political analyst but I need a good person to help me explain what makes dollar rise in Nigeria.

I can't really understand what's happening.

when the import of a country is greater than the export. When their are lack of enough industries in a country. When a country dosent make good use of its natural resources.

twentyfivekobo:




Let me repeat myself again...clearly.

Nigeria to prosper=we sell and export manufactured goods which means we earn far more than just selling oil, gas, agriculture, etc....

If you don't get it, my apologies.

you don't get it. this country is huge exporting country in resources already but lacks accountability .. companies are making huge amount money here but the money are stored abroad. Gas alone exported will reach $120b this year. When you add oil and others it will be close to $200b.

okeysoninv:
you don't get it. this country is huge exporting country in resources already but lacks accountability .. companies are making huge amount money here but the money are stored abroad. Gas alone exported will reach $120b this year. When you add oil and others it will be close to $200b.

We could make 1 trillion dollars if we exported manufactured goods....

twentyfivekobo:


We could make 1 trillion dollars if we exported manufactured goods....

you should start with what you have already

okeysoninv:
you should start with what you have already

We should have gone beyond that long time ago, because when prices fall, that 200 billion looks like 50 billion and less.

I know the dollar is a global currency (sort of) but what about the Euros must it be dollar? Somebody should enlighten me abeg are their not business that accept the Euros in place of dollars.

Moneyboyz:
Venezuela comes to mind.

All state owned projects are in shabbles, ruins or abandoned halfway during construction. we export nothing and depend on oil.
Imaging working all your life to save 2 million only for inflation to hit and you can't buy ordinary bread for 2 milla. That's the case of Venezuela today..you need a million plus just to get a cup of coffee.

Import tractors, lots of it and start tiling land for free and giving them to people to cultivate, they pay tax after harvest. Give loans to farmers and fix electricity to attract foreign investors.
Also terrorism is one of the reason no one wants to invest in Nigeria.

Their money is so worthless 1Million bolivars for a coffee

twentyfivekobo:


We should have gone beyond that long time ago, because when prices fall, that 200 billion looks like 50 billion and less.

Nigeria gas reserve value is $850Trillion. No excuses to failure in government.

okeysoninv:
Nigeria gas reserve value is $850Trillion. No excuses to failure in government.

A government that does not make our nation a net exporter of manufactured goods is a failed government.

Gray editorial from Daily Trust.


https://dailytrust.com/lessons-from-economic-crisis-in-sri-lanka